Financial Data and Key Metrics Changes - Grab reported a 21% year-on-year growth in on-demand GMV in U.S. dollars, or 18% on a constant currency basis [6][7] - Adjusted EBITDA growth has been sustained for fourteen consecutive quarters, with trailing twelve months adjusted free cash flow expanding to $229 million [7] - The company achieved a margin of 8.7% for Mobility, nearing its steady state margin target of over 9% [17] Business Line Data and Key Metrics Changes - Mobility transactions grew by 23% year-on-year, with GMV increasing by 19% year-on-year [15] - Delivery GMV accelerated to 19% year-on-year on a constant currency basis, driven by product-led initiatives [22] - GrabFood for One and Saver products contributed significantly to transaction growth, with Saver accounting for 34% of delivery transactions in Q2 [25] Market Data and Key Metrics Changes - The company is actively participating in government initiatives in Indonesia and Thailand to support local economies and tourism [12][13] - Grab's financial services business saw total loan disposals reaching close to $3 billion on an annualized run rate basis in Q2 [7] Company Strategy and Development Direction - Grab is focusing on affordability and product-led innovations to drive user engagement and retention [10][11] - The company aims to sustain growth momentum and accelerate on-demand GMV growth rates relative to 2024 levels [8] - Grab is leaning into the autonomous vehicle opportunity, planning pilots and partnerships to expand its AV services across Southeast Asia [28][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties through product-led investments and partnerships with governments [10][11] - The outlook for the second half of the year is positive, with expectations for stronger adjusted EBITDA compared to the first half [13] Other Important Information - Grab's advertising revenue reached a run rate of $236 million, growing at 45%, with significant potential for further growth [70] - The company is committed to achieving steady state margins of over 4% in the delivery segment in the long term [27][51] Q&A Session Summary Question: Outlook for Grab in the macro environment and consumption trends - Management is focused on affordability and has launched products to enhance user engagement, positioning the company well amid macro uncertainties [10][11] Question: Strategies driving increase in mobility transaction frequency - The growth in mobility transactions is attributed to reinvestment in scale economies and product-led growth initiatives [14] Question: Impact of new delivery products on margins - Despite the introduction of affordable products, delivery segment margins have expanded, and the company expects to reach steady state margins of over 4% [26][51] Question: Contribution mix between premium and affordable rides - Saver rides now account for one-third of mobility transactions, while premium rides are also growing, indicating a balanced approach to pricing [52] Question: Competition in food delivery and capital allocation - Management acknowledged competitive dynamics but emphasized Grab's scale and reinvestment strategy to maintain growth [40][41] Question: Expectations for advertising revenue growth - The advertising business is expected to continue growing due to increased penetration among merchants and high returns on advertising spend [72] Question: Financial services loan portfolio growth - The loan portfolio is projected to exceed $1 billion by year-end, driven by strong product offerings and risk management strategies [84][86]

Financial Data and Key Metrics Changes - Grab reported a year-on-year growth of 21% in on-demand GMV in U.S. Dollars, or 18% on a constant currency basis [5][6] - Adjusted EBITDA growth was sustained for the fourteenth consecutive quarter, with trailing twelve months adjusted free cash flow expanding to $229 million [6] - The company achieved an all-time high in monthly transacting users (MTUs) [6] Business Line Data and Key Metrics Changes - Mobility transactions grew by 23% year-on-year, with GMV increasing by 19% year-on-year [14][15] - Delivery GMV accelerated to 19% year-on-year on a constant currency basis, driven by product-led initiatives [21] - Financial Services business saw total loan disposals reaching close to $3 billion on an annualized run rate basis [6] Market Data and Key Metrics Changes - The company is focusing on affordability to attract more price-sensitive users, which has been critical in the current macroeconomic environment [10][11] - In Indonesia, Grab participated in a government initiative to deliver nutritious meals, enhancing brand loyalty and user engagement [12] - In Thailand, Grab is collaborating with the government to support the tourism sector [13] Company Strategy and Development Direction - Grab aims to maintain growth momentum and accelerate on-demand GMV growth rates relative to 2024 levels while maintaining cost discipline [6][11] - The company is investing in product-led innovations to enhance user engagement and retention [10][11] - Grab is leaning into the autonomous vehicle (AV) opportunity, planning pilots and partnerships to support the transition [28][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating macroeconomic uncertainties through product-led investments and partnerships with governments [10][11] - The outlook for on-demand GMV growth in 2025 is expected to accelerate compared to 2024 levels, with adjusted EBITDA in the second half anticipated to be stronger than the first half [13] - Management emphasized the importance of balancing growth and profitability, particularly in the delivery segment [79][85] Other Important Information - The advertising revenue run rate reached $236 million, growing at 45%, with expectations for continued growth due to increased penetration among merchants [67][70] - The company completed a $500 million buyback and has no immediate plans for new buyback programs [41] Q&A Session Summary Question: Outlook for Grab in the macro environment - Management is focused on affordability and has launched products to enhance user engagement, positioning the company well despite macro uncertainties [10][11] Question: Strategies driving increase in mobility transaction frequency - The growth in mobility transactions is attributed to reinvestment in scale economies and product-led growth strategies [14][15] Question: Delivery segment margin outlook - Despite the growth of affordable products, delivery segment margins have expanded, and management expects continued improvement [25][49] Question: Capital allocation post convertible bond raise - The company maintains a prudent approach to capital allocation, prioritizing organic growth while remaining open to M&A opportunities [39][41] Question: Competition in food delivery in Vietnam - Management noted that the AOV drop in mobility is a strategic decision to drive volume rather than a response to competitive pressures [35][36] Question: Long-term outlook for GrabMart - GrabMart is expected to grow faster than traditional food delivery, with significant potential in the online grocery market [60][62]